CBA, ANZ, NAB, Westpac: Everything flood-affected Aussies can get from the banks

Westpac, CBA, ANZ and NAB have announced a range of services to those struggling due to the recent flooding in NSW. (Source: Getty)

Aussies affected by the most recent bout of flooding in New South Wales can access a host of different services from their bank to help them.

All of the major banks have provided a range of services and accommodations to those struggling in their time of need.

• Also read: Flood relief triggered again in NSW: Here’s who is eligible

• Also read: How you could lose money chasing the $1,000 flood payment

• Also read: $5.2 million for free financial help if you live here

Here’s a comprehensive list of everything flood-affected Aussies can get from their bank.

Commonwealth Bank of Australia

As part of CBA’s emergency assistance, customers can discuss a range of options, including:

• Customised payment arrangements for your home loan, credit card, personal loan and some business loans

• Waiving fees and charges

• Temporary overdrafts, additional loans or emergency credit-limit increases (subject to credit approval)

• Waiving fees and notice periods for early access to term deposits

• For CommInsure customers, CBA can assist with emergency accommodation if your home has been damaged

• Loan restructuring for business customers and existing loans

• Waiving fees for temporary and damaged merchant EFTPOS terminals, as well as support with merchant terminal rental fees

• CBA can also expedite claims to CommInsure for customers seeking help through their home and contents insurance

ANZ

ANZ urges customers affected by the floods to contact the bank when it is safe, to discuss how they can access relief-package measures including:

• Short-term payment relief on home loans, credit cards, personal loans and some business loans (they may still charge interest during this period)

• Waiving fees for restructuring business loans

• Waiving fees for accessing term deposits early

NAB

Support available for NAB customers directly impacted by the current floods includes:

• $1,000 grants, to help those affected with immediate assistance

• Loan deferral or reduced repayment arrangements for home, personal and some business loans

• Deferring upcoming credit card payments

• Waiving and/or refunding fees and charges, including for example: merchant-terminal fees and early-access fees to term deposits

• If customers are struggling to make their minimum monthly payments on personal loans, home loans or credit cards, additional support is available at https://www.nab.com.au/help-support/financial-hardship/application-form.

Westpac

Emergency support for Westpac and St. George customers:

• $3,000 cash grants through the flood support fund for small and medium businesses

• Affected customers with home loans may apply to defer repayments for up to 3 months

• Affected credit card customers may apply to defer repayments to their card for up to 90 days

• Affected customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee

• Waived interest-rate adjustments for affected customers wishing to withdraw term deposits

• Affected customers experiencing hardship may also be offered a halt on all interest accrual on unsecured credit products for a period of up to 3 months

• Affected customers with business loans may apply to defer repayments for up to 3 months

• Affected businesses with existing loans can request loan restructuring without incurring the usual establishment fees

• Affected business customers with merchant facilities are eligible to receive assistance, including monthly terminal-access-fee waivers for up to 3 months

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